Somewhat Positive News Coverage Somewhat Unlikely to Affect Centennial Resource Development (CDEV) Stock Price
Media headlines about Centennial Resource Development (NASDAQ:CDEV) have been trending somewhat positive this week, according to Accern. Accern rates the sentiment of media coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Centennial Resource Development earned a news impact score of 0.17 on Accern’s scale. Accern also gave media coverage about the oil and natural gas company an impact score of 47.4666691545874 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Several analysts have commented on CDEV shares. TheStreet upgraded shares of Centennial Resource Development from a “c” rating to a “b-” rating in a research note on Friday, August 31st. Zacks Investment Research upgraded shares of Centennial Resource Development from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Tuesday, July 17th. Royal Bank of Canada restated a “buy” rating and set a $28.00 price objective on shares of Centennial Resource Development in a research note on Friday, July 13th. ValuEngine upgraded shares of Centennial Resource Development from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Finally, TD Securities started coverage on shares of Centennial Resource Development in a research note on Thursday, July 5th. They set a “buy” rating and a $23.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $24.42.
CDEV opened at $19.22 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.13. Centennial Resource Development has a 1 year low of $15.78 and a 1 year high of $22.14. The firm has a market capitalization of $5.31 billion, a P/E ratio of 68.64 and a beta of 1.38.
Centennial Resource Development Company Profile
Centennial Resource Development, Inc, together with its subsidiary, Centennial Resource Production, LLC, operates as an independent oil and natural gas company in the United States. It focuses on the development of unconventional oil and associated liquids-rich natural gas reserves located in the Permian Basin.
Further Reading: Fundamental Analysis
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